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Star Delta Transformers (BSE 539255)₹464.50−0.96%Heavy Electrical Equipment
In the Mar 2026 quarter (standalone), Star Delta Transformers reported sales of ₹46.32 Cr, up 23.4% from Mar 2025, and net profit of ₹4.41 Cr, up 44.6% year on year. For the year to Mar 2026, sales were ₹173 Cr and net profit ₹11.99 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 29.59 | 36.92 | 35.06 | 38.17 | 34.53 | 36.73 | 32.66 | 37.53 | 30.14 | 43.47 | 52.63 | 46.32 |
| Expenses | 27.34 | 32.95 | 31.69 | 35.41 | 31.30 | 33.49 | 29.41 | 33.34 | 27.31 | 39.42 | 49.31 | 40.47 |
| Operating Profit | 2.44 | 4.17 | 3.58 | 2.97 | 3.45 | 3.42 | 3.46 | 4.37 | 3.00 | 4.33 | 3.63 | 6.11 |
| OPM % | 8.2% | 11.3% | 10.2% | 7.8% | 10.0% | 9.3% | 10.6% | 11.6% | 9.9% | 9.9% | 6.9% | 13.2% |
| Other Income | 1.80 | 0.75 | 0.50 | 0.98 | 0.37 | 0.73 | 0.22 | 0.07 | 0.61 | 0.61 | 0.53 | 0.35 |
| Interest | 0.14 | 0.54 | 0.52 | 0.16 | 0.19 | 0.25 | 0.29 | 0.22 | 0.35 | 0.40 | 0.39 | 0.33 |
| Depreciation | 0.21 | 0.21 | 0.21 | 0.12 | 0.21 | 0.21 | 0.24 | 0.16 | 0.20 | 0.20 | 0.24 | 0.13 |
| Profit before tax | 3.86 | 4.14 | 3.32 | 3.66 | 3.39 | 3.68 | 3.12 | 4.05 | 3.03 | 4.31 | 3.50 | 5.96 |
| Tax % | 11.1% | 25.1% | 26.5% | 42.3% | 25.3% | 22.3% | 31.7% | 24.6% | 25.0% | 7.9% | 41.1% | 26.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | −0.04 | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | 3.43 | 3.10 | 2.44 | 2.11 | 2.54 | 2.86 | 2.13 | 3.05 | 2.26 | 3.96 | 2.05 | 4.41 |
| EPS (Rs) | 11.43 | 10.33 | 8.14 | 7.04 | 8.48 | 9.54 | 7.10 | 10.16 | 7.54 | 13.19 | 6.85 | 14.67 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 72.80 | 60.83 | 57.87 | 108 | 64.82 | 17.95 | 30.90 | 70.77 | 140 | 142 | 173 | 173 |
| Expenses | 68.16 | 55.11 | 54.17 | 99.29 | 61.12 | 19.05 | 29.08 | 66.14 | 127 | 127 | 156 | 157 |
| Operating Profit | 5.01 | 5.01 | 4.01 | 9.02 | 5.01 | 0.00 | 2.01 | 5.01 | 13.03 | 15.04 | 17.05 | 17.07 |
| OPM % | 6.1% | 8.1% | 7.0% | 8.0% | 7.1% | −1.7% | 5.0% | 8.1% | 9.1% | 10.0% | 10.1% | 9.9% |
| Other Income | 2.01 | 2.01 | 1.01 | 1.01 | 2.01 | 4.01 | 5.01 | 4.01 | 4.01 | 1.01 | 1.01 | 2.10 |
| Interest | 1.01 | 0.99 | 0.99 | 0.99 | 0.00 | 0.00 | 0.00 | 0.99 | 1.01 | 1.01 | 1.99 | 1.47 |
| Depreciation | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 0.77 |
| Profit before tax | 4.99 | 4.99 | 2.99 | 7.98 | 5.99 | 1.99 | 4.99 | 7.98 | 14.96 | 13.96 | 15.96 | 16.80 |
| Tax % | 34.0% | 36.0% | 33.0% | 26.0% | 22.0% | 27.0% | 30.0% | 25.1% | 26.1% | 26.0% | 26.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | 2.99 | 2.99 | 1.99 | 5.99 | 3.99 | 1.99 | 3.99 | 5.99 | 10.98 | 10.99 | 11.99 | 12.68 |
| EPS (Rs) | 10.50 | 10.70 | 7.24 | 18.63 | 14.57 | 5.87 | 12.13 | 19.13 | 36.92 | 35.29 | 39.63 | 42.25 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 |
| Reserves | 29.97 | 32.95 | 35.97 | 38.02 | 43.98 | 47.93 | 49.99 | 53.96 | 60.02 | 70.96 | 80.90 | 92.89 |
| Borrowings | 3.00 | 5.98 | 3.99 | 5.99 | 3.00 | 0.99 | 0.99 | 0.99 | 2.99 | 2.00 | 2.01 | 10.98 |
| Other Liabilities | 9.95 | 4.97 | 5.97 | 13.93 | 11.95 | 3.98 | 2.98 | 1.99 | 20.90 | 9.96 | 6.96 | 10.95 |
| Total Liabilities | 44.91 | 46.89 | 48.92 | 61.93 | 60.92 | 56.89 | 57.95 | 59.93 | 85.90 | 85.91 | 93.86 | 118 |
| Fixed Assets | 8.97 | 8.97 | 7.98 | 7.97 | 7.97 | 6.97 | 5.98 | 5.98 | 4.98 | 4.98 | 5.98 | 7.97 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.01 | 1.01 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 35.94 | 37.92 | 40.94 | 53.96 | 53.95 | 48.92 | 50.97 | 53.95 | 80.92 | 80.93 | 87.87 | 109 |
| Inventories | 12.98 | 9.98 | 6.99 | 23.96 | 26.95 | 4.99 | 7.98 | 6.99 | 19.96 | 26.95 | 23.96 | 30.96 |
| Trade receivables | 15.97 | 21.96 | 23.96 | 20.98 | 15.97 | 12.97 | 9.99 | 9.99 | 33.97 | 33.94 | 43.95 | 58.88 |
| Cash & equivalents | 4.98 | 2.99 | 6.98 | 3.99 | 7.98 | 7.98 | 7.98 | 12.96 | 4.99 | 7.97 | 9.98 | 6.98 |
| Total Assets | 44.91 | 46.89 | 48.92 | 61.93 | 60.92 | 56.89 | 57.95 | 59.93 | 85.90 | 85.91 | 93.86 | 118 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 7.99 | −4.01 | 4.99 | −4.99 | 9.01 | 0.00 | −2.99 | 2.99 | −16.01 | −6.99 | 2.99 | −11.01 |
| Cash from investing activity | 0.99 | 0.00 | 0.00 | 0.99 | −0.99 | 1.99 | 3.99 | 2.99 | 5.99 | 10.99 | 0.99 | −1.99 |
| Cash from financing activity | −12.96 | 1.99 | −1.99 | 0.99 | −4.99 | −1.99 | 0.00 | 0.00 | 0.99 | −1.99 | −0.99 | 6.98 |
| Net cash flow | −5.01 | −2.01 | 3.01 | −3.01 | 4.01 | 0.00 | 1.01 | 5.02 | −10.03 | 2.01 | 4.01 | −6.02 |
| Capex | 0.04 | 0.58 | 0.01 | 0.18 | 0.87 | 0.31 | 0.03 | 0.08 | 0.29 | 0.64 | 1.37 | 2.94 |
| Free cash flow | 8.02 | −4.01 | 5.01 | −5.01 | 9.02 | 0.00 | −3.01 | 3.01 | −17.04 | −8.01 | 1.01 | −14.02 |
| CFO / OP % | 228.0% | −44.0% | 129.0% | −65.0% | 133.0% | 34.0% | 826.0% | 238.0% | −273.0% | −23.0% | 48.0% | −42.0% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 113 | 109 | 147 | 131 | 57 | 76 | 194 | 117 | 173 | 89 | 114 | 126 |
| Inventory days | 121 | 65 | 56 | 209 | 119 | 34 | 217 | 102 | 124 | 88 | 79 | 84 |
| Days payable | 21 | 9 | 11 | 94 | 12 | 12 | 28 | 5 | 114 | 26 | 13 | 16 |
| Cash conversion cycle | 212 | 164 | 189 | 244 | 162 | 96 | 381 | 212 | 181 | 150 | 177 | 192 |
| Working capital days | 164 | 139 | 164 | 204 | 113 | 210 | 795 | 459 | 270 | 157 | 171 | 170 |
| ROCE % | 8.0% | 16.0% | 14.0% | 10.0% | 16.9% | 12.0% | 5.0% | 9.9% | 13.9% | 22.9% | 19.0% | 17.9% |
For the Mar 2026 quarter, Star Delta Transformers reported sales of ₹46.32 Cr, up 23.4% year on year and net profit of ₹4.41 Cr, up 44.6% year on year. The operating margin was 13.2%.
Star Delta Transformers' sales for the year to Mar 2026 were ₹173 Cr; over the last twelve months they were ₹173 Cr.
Net profit for the year to Mar 2026 was ₹11.99 Cr, and ₹12.68 Cr over the last twelve months. Earnings per share over the same trailing period were ₹42.25.
Star Delta Transformers reported borrowings of ₹10.98 Cr at Mar 2026, against cash and equivalents of ₹6.98 Cr.
Cash from operations was −₹11.01 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹14.02 Cr.